Current Context: BofA Securities, which is a foreign brokerage, has stated that India’s GDP will contract by 3% for financial year 2021.
- The lower contraction in GDP is predicted because the country is facing economic crisis due to the outbreak of COVID-19 pandemic.
- BofA Securities has also predicted that India’s GDP will contract this fiscal with estimates ranging upto 7% negative growth.
- It also stated that RBI will monetize the fiscal deficit by purchasing government bonds.
Question:
Q.1 As per BofA Securities, India’s GDP will contract by___% for financial year 2021?
a. 2%
b. 3%
c. 4%
d. 5%
a. 2%
b. 3%
c. 4%
d. 5%
